Greggs (LON:GRG) Price Target Raised to GBX 1,420

Greggs (LON:GRG) had its price target increased by Deutsche Bank Aktiengesellschaft from GBX 1,330 to GBX 1,420 in a report released on Wednesday,Digital Look reports. They currently have a sell rating on the stock.

A number of other brokerages also recently commented on GRG. JPMorgan Chase & Co. raised their price objective on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their target price on Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Shore Capital Group reissued a “hold” rating and issued a GBX 1,910 price target on shares of Greggs in a report on Wednesday. Jefferies Financial Group raised their price target on Greggs from GBX 1,610 to GBX 1,740 and gave the company a “hold” rating in a report on Friday, August 28th. Finally, Berenberg Bank lifted their price target on Greggs from GBX 2,200 to GBX 2,300 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 1,962.86.

Greggs Stock Up 1.9%

Shares of Greggs stock opened at GBX 2,026 on Wednesday. Greggs has a one year low of GBX 1,407.20 and a one year high of GBX 2,058. The company has a market cap of £2.07 billion, a P/E ratio of 15.72, a PEG ratio of 3.39 and a beta of 1.16. The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52. The firm has a fifty day moving average of GBX 1,848.69 and a two-hundred day moving average of GBX 1,693.05.

Greggs (LON:GRG) last issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. On average, analysts forecast that Greggs will post 142.3763386 earnings per share for the current year.

Insider Activity at Greggs

In related news, insider Richard Hutton sold 3,069 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total value of £59,108.94. 0.63% of the stock is owned by corporate insiders.

Key Stories Impacting Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported 7.7% third-quarter sales growth, reinforcing the view that customer demand remains resilient. The company also outlined a manufacturing restructuring plan, which could improve efficiency over time. Greggs Reports 7.7% Q3 Sales Growth and Proposes Manufacturing Restructuring
• Positive Sentiment: Analyst expectations have improved following the trading update. Berenberg raised its price target from GBX 2,200 to GBX 2,300 and maintained a buy rating, while other commentary describes the latest forecasts as more favorable. Q4 London Shares to Watch
• Positive Sentiment: Greggs’ fair-value assessment received a boost as analysts incorporated the strong Q3 performance and updated outlook, providing additional support for the stock. Greggs Stock Gets Fair Value Bump
• Neutral Sentiment: Shore Capital reaffirmed its hold rating, suggesting the improved trading momentum is broadly reflected in Greggs’ valuation after its strong share-price performance. Shore Capital Reaffirms Hold Rating
• Negative Sentiment: Deutsche Bank raised its target from GBX 1,330 to GBX 1,420 but retained a sell rating, indicating that it views the shares as overvalued despite the improved outlook. Analysts have also cited ongoing cost pressures as a reason for caution. Deutsche Bank Forecast for Greggs

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,700 shops nationwide and approximately 33,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.